AAVE

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0044%/8h= −4.8% APRnext payment −$0.05 per $10,000 · paid last 24h 0.000%

Price spread now: Pacifica against Backpack−0.129%7-day average −0.001% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$330.327% of the position

Long on Backpack Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days−0.026%−$3 on $10k

Price spread, last 4 days (all we have)+0.196%+$20 · spread now −0.129%, 7d avg −0.001%

Together, before fees+0.170%+ Points / potential airdropPacifica: Active · farm board+$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Pacifica is 0.128% cheaper against Backpack than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.001%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack AAVE_USDC_PERP	142.40	0.0144	pay 0.0018% / 1h	23m 23s	$338K	$730K	10x
Short	Pacifica AAVE	142.22	0.0100	get 0.0013% / 1h	23m 23s	$325K	$447K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against Backpack. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BackpackbpFee PacificabpOrdersPrice spread, now −0.129%Rate

Funding earned: −$9.19
Price spread: −0.129% → −0.001%: −$12.83
Slippage, 4 orders: −$14.7
Fee Backpack: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$54.72
Costs to cover: 0.327%
Break-even: never at this rate

Slippage from Backpack: live order book, 25 min ago; Pacifica: live order book, 25 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Backpack live order book, 25 min ago	0.35 bp	7.9 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica live order book, 25 min ago	3.48 bp	8.5 bp −$8	doesn't fit	doesn't fit	doesn't fit

AAVE on 42 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX AAVE-USD	0.0000%	1h	142.21	−0.135%	$102K	$4K	10x	as long as short
Kalshi KXAAVEPERP	0.0000%	8h	142.16	−0.169%	$49K	$1.5M	3.4x	as long as short
Deribit AAVE_USDC-PERPETUAL	0.0000%	1h	142.20	−0.140%	$216K	$394K	50x	as long as short
gTrade (Gains Network) AAVE/USD	L +0.0005% / S −0.0004%	1h	142.19	−0.147%	$79K	—	150x	as long as short
Nado AAVE-PERP	+0.0031%	1h	142.10	−0.207%	$832K	$403K	10x	as long as short
Injective AAVE/USDC PERP	+0.0033%	1h	136.96	−3.820%	$422	$51K	12x	as long as short
Reya AAVERUSDPERP	+0.0044%	1h	142.06	−0.241%	—	—	20x	as long as short
Orderly PERP_AAVE_USDC	+0.0069%	8h	142.22	−0.126%	$18K	$10K	10x	as long as short
Paradex AAVE-USD-PERP	+0.0100%	8h	142.17	−0.163%	$13K	$4K	20x	as long as short
Hyperliquid AAVE	+0.0100%	1h	142.24	−0.112%	$77.7M	$37.1M	10x	as long as short

Show all 42 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster AAVEUSDT	+0.0100%	8h	142.14	−0.184%	$1.2M	$1.2M	50x	as long as short
Pacifica AAVEshort	+0.0100%	1h	142.22	−0.129%	$325K	$447K	10x
Binance AAVEUSDT	+0.0100%	8h	142.17	−0.162%	$63.8M	$190.8M	75x	as long as short
Bybit AAVEUSDT	+0.0100%	8h	142.16	−0.169%	$60.9M	$68.3M	75x	as long as short
OKX AAVE-USDT-SWAP	+0.0100%	8h	142.16	−0.169%	$17.0M	$64.4M	50x	as long as short
Arcus AAVE-USD	+0.0100%	1h	142.23	−0.119%	$63K	$198K	10x	as long as short
Bulk AAVE-USD	+0.0100%	1h	142.34	−0.044%	$57K	−$0	10x	as long as short
Gate AAVE_USDT	+0.0100%	8h	142.09	−0.218%	$8.0M	$16.2M	75x	as long as short
MEXC AAVE_USDT	+0.0100%	8h	142.10	−0.211%	$25.0M	$24.1M	200x	as long as short
KuCoin AAVEUSDTM	+0.0100%	8h	142.15	−0.176%	$10.2M	$9.5M	75x	as long as short
Bitget AAVEUSDT	+0.0100%	8h	142.14	−0.183%	$29.1M	$18.4M	75x	as long as short
BingX AAVE-USDT	+0.0100%	8h	142.14	−0.183%	—	$43.5M	—	as long as short
Variational Omni AAVE	+0.0100%	8h	142.03	−0.259%	$3.7M	$1.3M	—	as long as short
edgeX AAVEUSDC	+0.0100%	4h	141.94	−0.323%	$105K	$280K	20x	as long as short
GRVT AAVE_USDT_Perp	+0.0100%	8h	142.34	−0.042%	$454K	$3.9M	10x	as long as short
ApeX Omni AAVEUSDT	+0.0100%	1h	142.04	−0.253%	$132K	$222K	50x	as long as short
Polymarket Perps AAVE-USD	+0.0100%	1h	142.16	−0.169%	$140K	$468K	10x	as long as short
SunX AAVE-USDT	+0.0100%	8h	142.12	−0.197%	$2K	$1.3M	20x	as long as short
SoDEX AAVE-USD	+0.0100%	1h	142.22	−0.126%	$5K	$313K	10x	as long as short
HTX AAVE-USDT	+0.0100%	8h	142.71	+0.221%	$682K	$5.2M	75x	as long as short
Phemex AAVEUSDT	+0.0100%	8h	142.23	−0.119%	$4.0M	$3.6M	50x	as long as short
Extended AAVE-USD	+0.0104%	1h	142.15	−0.178%	$901K	$1.7M	50x	as long as short
01 Exchange AAVEUSD	+0.0104%	1h	142.18	−0.154%	$10K	$2K	5x	as long as short
Aevo AAVE-PERP	+0.0104%	1h	142.22	−0.128%	$120K	$146	10x	as long as short
Phoenix AAVE	+0.0118%	1h	142.01	−0.274%	$4K	$106K	10x	as long as short
Backpack AAVE_USDC_PERPlong	+0.0144%	1h	142.40	long leg	$338K	$730K	10x
RISEx AAVE/USDC	+0.0207%	1h	142.19	−0.147%	$190K	$253K	10x	as long as short
BloFin AAVE-USDT	+0.0220%	8h	142.17	−0.162%	$3.3M	$3.5M	100x	as long as short
Kraken Futures PF_AAVEUSD	+0.0238%	1h	142.30	−0.067%	$3.4M	$2.1M	50x	as long as short
GMX AAVE/USD [AAVE-USDC]	L +0.0252% / S −0.0362%	1h	142.16	−0.170%	$111K	—	100x	as long as short
Lighter AAVE	+0.0264%	1h	142.42	+0.017%	$4.5M	$2.4M	10x	as long as short
Coinbase International AAVE-PERP-INTX	+0.0376%	1h	142.17	−0.162%	$758K	$2.8M	50x	as long as short